Mixed Outlook for Retail Building Products Amid Coronavirus

The Building Products – Retail industry comprises U.S. home improvement retailers, manufactures of industrial and construction materials and distributors of wallboard and ceilings systems. Some of the industry participants also offer products and services for home decoration, repair and remodeling, and in-home delivery and installation services.

The industry players provide a wide array of products, ranging from cement or concrete foundation materials to roofing boards and shingles. The companies also sell lumber, insulation materials, drywall, plumbing fixtures, hard-surface flooring, lawn and garden, and decor products. Some players also deal in threaded fastener products, and manufactured and natural stone tiles. The industry players cater to professional homebuilders, sub-contractors, remodelers and consumers.

Let’s take a look at the industry’s three major themes:

  • The industry’s prospects remain closely tied to U.S. housing market conditions, and repair and remodeling (R&R) activity. The bleak near-term prospects of the housing market amid coronavirus-induced high unemployment and
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Visa withdraws annual outlook amid virus outbreak

(Reuters) – Visa Inc on Thursday decided to pull its full-year outlook on rising unemployment numbers and more people conserving cash during the COVID-19 pandemic even while posting a second-quarter profit that rose 4%.

In January, the world’s No. 1 payments processor forecast a revenue growth in the low-double digits for the full year.

“Our prior outlook for fiscal 2020 is no longer relevant, and it is not possible to provide you with any reliable forecast for the second half,” Chief Financial Officer Vasant Prabhu said.

U.S. retail sales suffered a record drop in March from the closure of bars, restaurants and non-essential retailers such as clothing stores, outweighing an anticipated surge in spending on household essentials and at online retailers such as Amazon.com Inc.

“About 1/4 of our payments volume is in the hardest-hit categories, including travel, fuel, restaurants and entertainment,” Prabhu said.

The company’s total payments volume rose

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